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5 minute read Guides Learner Drivers

Young Drivers: How to Keep the Cost of Buying a Car Down

You’ve passed your test! Woo! Owning a car can be expensive but if you want to buy your own car there’s a few things to consider to keep the cost down.

by Eilidh

Life can be expensive for a driver fresh out the learner seat – especially if they’ve chosen to buy a car! If you’re set on getting your own wheels, we’ve put together some handy tips to keep the cost down.

You’ve just passed your driving test, now it’s time to buy a car. If you’re in a position where you can buy your own car, there are things you need to consider.

New car or old car?

Getting a brand-new car might be something you want, but don’t limit yourself. Getting a year-old car can be much cheaper, saving you hundreds of pounds. On average a year-old car is 27% cheaper than it was to buy a year ago!

The cheapest cars to run

While the cost of the car itself is important, there are many other factors which can contribute, such as road tax, efficiency and insurance. Things to note:

  • Smaller engines can be cheaper
  • Petrol cars tend to be cheaper than diesel
  • Smaller cars are cheaper to insure

Insurance group

According to the Association of British Insurers (ABI) 10% of a young driver’s salary is spent on car insurance. Cars are allocated groups from 1–50, with group 1 typically being the cheapest to insure and group 50 being the highest.

Breakdown by car:

Hyundai i10 hatchback

Efficiency: 65.7mpg

Insurance Group: Starts at Insurance Group 2

Peugeot 308 hatchback

Efficiency: 65.7mpg

Insurance Group: Starts at Insurance Group 9

Citroën C1 hatchback

Efficiency: 68.9mpg

Insurance Group: Starts at Insurance Group 12

Toyota Aygo hatchback

Efficiency: 62.8mpg

Insurance Group: Starts at Insurance Group 6

Vauxhall Viva

Efficiency: 62.8mpg

Insurance Group: Starts at Insurance Group 3

Fiat 500

Efficiency: 58.9mpg

Insurance Group: Starts at Insurance Group 6

Volkswagen Up

Efficiency: 62.8mpg

Insurance Group: Starts at Insurance Group 1

 

 


Need a wee bit more practice before you can get your dream first car? Get some extra practice between lessons with our Learner Driver Insurance. Passed the test, but decided buying a car isn’t for you? Our Car Sharing Insurance or Rentals could be right up your street.

Eilidh

Hi I'm Eilidh 👋 I joined Veygo for a 3 month internship in June 2018 and loved it so much I decided to stay! I've been driving for 4 years and, despite being an awful singer, I am known to belt out performances of my fave songs in my car 👩‍🎤

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